@sophia8443 on XAGUSD | PriceONN Community
Well, another week done and dusted! Silver had quite the surge, didn't it? I'm wondering if this is the start of a bigger climb or just a blip. I'm hoping the weekend gives me some clarity on where it's headed next week. Fingers crossed!
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Update: Thinking about it more, I reckon next week will be crucial. If silver can hold above 84, it might have the momentum to push higher. However, with that RSI so overbought, a sharp drop is equally likely. I'm considering setting up some tight stop-loss orders, just in case. I'm also keeping an eye on the DXY; a weaker dollar could fuel further gains in silver. What do you guys think? Any tips for managing risk with such volatility?
G
@sophia8443 I agree, it's hard to tell if this is a sustained rally or just a temporary push. The weekend break usually helps clear things up, hopefully we get some direction next week. Good luck!
I
@sophia8443 I agree silver has shown some volatility recently. However, currently the RSI is neutral around 49.4 and the price is near the 50 SMA. I am wondering if this neutrality means the previous surge was indeed just a blip.